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Heritage Cannabis Holdings Corp. (HERTF) provides investors and industry observers with essential updates through this centralized news hub. Track official press releases, strategic developments, and operational updates from the cannabis-focused asset management company.
Discover timely information about corporate restructuring initiatives under the Companies' Creditors Arrangement Act (CCAA), portfolio optimization efforts, and regulatory compliance milestones. This resource aggregates earnings announcements, asset transaction details, and management commentary to support informed market analysis.
Key updates include production capacity changes, partnership developments, and financial restructuring progress. The curated collection serves as a reliable reference for understanding HERTF's position within evolving cannabis markets and its approach to operational resilience.
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Heritage Cannabis Holdings Corp. (CSE: CANN, OTCQX: HERTF) is expanding its operations into West Virginia after Harvest Care Medical, LLC obtained its processing license. This marks Heritage's second U.S. state of operation, with plans for growth in six more states. The company's asset-light strategy enables efficient production and distribution of cannabis products, capitalizing on favorable market conditions. CEO David Schwede highlighted the company’s growth trajectory and anticipated further revenue streams as the U.S. leans towards cannabis decriminalization.
Heritage Cannabis Holdings Corp. (CSE: CANN, OTCQX: HERTF) announces the launch of RAD Razzlers, a new cannabis gummy product expanding its edibles category. Each pack contains 10 mg of THC, with individual gummies offering 2.5 mg. Initially available in Alberta, Saskatchewan, Manitoba, and Ontario, Heritage plans to expand availability nationwide and into the U.S. market. CEO David Schwede highlights the product's potential to enhance revenue streams, leveraging the established RAD brand's popularity.
Heritage Cannabis Holdings Corp. (CSE: CANN; OTCQX: HERTF) announced the launch of operations in
Missouri's medical cannabis market was valued at
Heritage Cannabis Holdings Corp. reported significant financial growth for Q3 2022, achieving gross revenue of $10,799,784, a 111% increase year-over-year. The nine-month gross revenue reached $30,848,238, up over 167%. The company marked its second consecutive quarter of positive EBITDA, driven by expanding sales channels and product offerings. Despite challenges from a regional labor strike affecting sales, operational efficiencies improved, reducing costs. However, the company reported a comprehensive loss of $2,793,327 for Q3 2022, down from $6,637,449 in Q3 2021.
Heritage Cannabis Holdings Corp. has announced a change in auditors, transitioning from Davidson & Company LLP to Welch LLP. The Former Auditor resigned on September 8, 2022, with the Successor Auditor taking over from September 9, 2022. Notably, there were no reservations or modified opinions regarding the Former Auditor's reports on the Company’s financial statements. These changes comply with National Instrument 51-102, and the necessary filings have been made on SEDAR.
Heritage Cannabis Holdings Corp. (CSE: CANN, OTCQX: HERTF) has formed a partnership with Harvest Care Medical, LLC in West Virginia to supply extraction expertise and launch Heritage branded products. Harvest Care, an established leader with ten dispensary licenses, will utilize its cultivation license to enhance Heritage's production capabilities. The agreement includes installation of production equipment, expected to be operational by September. The West Virginia medical cannabis market is projected to reach USD $40 million by 2025, presenting significant growth opportunities for Heritage.
Heritage Cannabis Holdings Corp. (CSE: CANN, OTCQX: HERTF) has launched Heritage Helps, a multi-faceted program for community and environmental support, set to roll out throughout 2022. The initiative aims to enhance environmental sustainability by converting packaging for the Pura Vida brand to recyclable and biodegradable materials. Additionally, a partnership with a national organization aimed at assisting underserved individuals will be announced this summer. CEO David Schwede emphasizes the company's commitment to positively impacting both the environment and local communities.
Heritage Cannabis Holdings Corp. (CSE: CANN, OTCQX: HERTF) announced that shareholders approved key items at the annual general meeting on June 30, 2022. The approved items include the election of Celine Arsenault, Clint Sharples, and David Schwede as directors, and the appointment of Davidson & Company LLP as the auditor. Heritage Cannabis is a prominent player in the Canadian cannabis market with a range of products under various brands, catering to both medical and recreational segments.
Heritage Cannabis Holdings Corp. (CSE: CANN, OTCQX: HERTF) reported its Q2 2022 financial results, achieving gross revenue of
Heritage Cannabis Holdings Corp. (CSE: CANN, OTCQX: HERTF) announced the launch of twenty new cannabis products in Ontario, expected to hit the market this fall through the Ontario Cannabis Store. These products, which include flower, pre-rolls, vapes, edibles, and concentrates, received Notice to Purchase from OCS, highlighting the company's effective product pipeline. Additionally, the company has settled $391,000 in bonuses for executives by issuing 7,109,090 common shares instead of cash, based on the recent fiscal quarter's performance.
